Oak Thistle LLC Sells 5,085 Shares of Docusign Inc. (NASDAQ:DOCU)

Oak Thistle LLC lowered its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 47.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,521 shares of the company's stock after selling 5,085 shares during the period. Oak Thistle LLC's holdings in Docusign were worth $449,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC increased its stake in shares of Docusign by 519.4% during the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock worth $31,000 after purchasing an additional 322 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new stake in shares of Docusign during the 4th quarter worth approximately $37,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Docusign by 153.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock worth $37,000 after purchasing an additional 274 shares during the last quarter. McIlrath & Eck LLC increased its stake in shares of Docusign by 476.0% during the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock worth $39,000 after purchasing an additional 357 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Docusign by 490.0% during the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after purchasing an additional 392 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DOCU shares. UBS Group reduced their price objective on shares of Docusign from $85.00 to $80.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Jefferies Financial Group reduced their price objective on shares of Docusign from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Hsbc Global Res upgraded shares of Docusign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. Bank of America reduced their price objective on shares of Docusign from $88.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Finally, HSBC upgraded shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 price objective for the company in a research note on Friday, April 11th. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $89.77.

Docusign Price Performance

Docusign stock traded up $0.98 during mid-day trading on Monday, hitting $80.85. The company's stock had a trading volume of 387,385 shares, compared to its average volume of 2,620,211. The stock has a market cap of $16.34 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 29.81 and a beta of 1.08. The business has a 50 day moving average price of $80.18 and a 200-day moving average price of $82.99. Docusign Inc. has a 12 month low of $48.80 and a 12 month high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.09. The business had revenue of $763.65 million during the quarter, compared to the consensus estimate of $748.79 million. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, equities research analysts expect that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign declared that its Board of Directors has approved a stock repurchase plan on Thursday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 6.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Insider Activity

In other news, CFO Blake Jeffrey Grayson sold 15,143 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the completion of the transaction, the chief financial officer directly owned 110,723 shares of the company's stock, valued at approximately $8,282,080.40. This represents a 12.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $74.37, for a total transaction of $39,713.58. Following the transaction, the director directly owned 8,805 shares of the company's stock, valued at approximately $654,827.85. This trade represents a 5.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 78,552 shares of company stock valued at $5,983,631. 1.66% of the stock is currently owned by insiders.

About Docusign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.